Elephant on the balance sheet | What’s the catch?
An AIM company covered below has staged an amazing recovery over recent years. Despite the soaring share price, the valuation looks extremely modest, so what’s the catch? Elsewhere, another company’s two very different operating businesses make it extremely hard to value; one is certainly more appealing to us than the other, as you can discover. Read on here for our thoughts on these and other stories. (Premium)
Mpac: doing nicely, it’s just a pity about that pension deficit Shares in Mpac Group (AIM:MPAC), the global packaging and automation solutions Group, climbed on excellent full year results. Mpac designs, build and supports those incredible machines which assemble and package everyday products. It appears to be making excellent progress, although we are surprised at the very low margins. For the 12 months to 31 December 2023 revenue rose 17% to £114.2m. Within this Original Equipment revenue increased by 10% to £82.4m, underpinned largely by growth in EMEA and Asia. Services revenue grew by 38% to £31.8m (2022: £23.1m), driven…